The IFSCA Grade A recruitment notification was out recently and many people are confused related to the eligibility of the exam. So, here is a big opportunity for all the graduates. In a reply to our query, the Office of the Chairperson, IFSCA, has clarified that graduates from all streams can apply for IFSCA Grade A exam. This information unlocks a huge opportunity for those students who have been preparing hard for banking and regulatory bodies exams. Commerce and economics graduates have an edge over others, seeing its vast syllabus. However, we see a lot of engineering graduates excel at these exams each year. Please find the screenshot below. Let’s now take a sneak peak into the IFSCA Grade A selection process:
IFSCA Grade A 2023 Free Mock Test
IFSCA Grade A Selection Process
Phase I (Online Exam) => Phase II (Online Exam) => Phase III (Interview)
Phase I Online Exam
An online screening examination consisting of two papers (Multiple Choice questions of 100 marks each) will be held in March/April 2023 (tentatively). The exam will consist of:
| Paper | Streams/ Subjects | Maximum Marks | Duration | Cut off |
| Paper 1 | Multiple choice questionsGeneral awareness (financial sector) -25 questions X 1 mark eachEnglish language – 25 questions X 1 mark each Quantitative Aptitude – 25 questions X 1 mark each Test of Reasoning- 25 questions X 1 mark each | 100 | 60 minutes | 30% |
| Paper 2 | Multiple choice questions on General knowledge, Current events of national and international importance, Economic and social development (sustainable development, poverty, inclusion, and demographics), Commerce, Accountancy,Management, Finance and costing, Indian Economy, Global Economy, Five-year plans, Central Government’s initiatives/ Schemes in the financial sector.(50 questions X 2 marks each) | 100 | 60 minutes | 40% |
| Aggregate Cut off | 40% |
Note:
- There shall be negative marking (1/4th of marks assigned to the question) for the Paper 1 and Paper 2 in Phase I.
- There shall be a cut-off of minimum 30% for Paper 1 (no sectional cut-off shall be there) and a cut-off of minimum 40% for Paper 2 in Phase I.
- Candidates would need to secure separate cut-off in each paper as mentioned at (ii) above as well as aggregate cut-off marks of 40% in Phase I exam to be shortlisted for Phase II. Marks obtained in Phase I shall be used only for shortlisting the candidates for Phase II examination process and will not be counted for final selection of the candidates.
- Subject to the criteria mentioned at 3 above, all the candidates who clear Phase I shall be shortlisted for Phase II. List of candidates shortlisted for Phase II will be made available on IFSCA website.
- All question papers except the test of English will be set bilingually in Hindi and English.
IFSCA Grade A 2023 Free Mock Test
Phase II On-Line Examination:
An on-line examination consisting of two papers of 100 marks each will be held in April/ May 2023 (tentatively). The papers shall be as follows:
| Paper | Maximum Marks | Duration | Cut off | Weightage | |
| Paper 1 | English (Descriptive Test)(a) Precis Writing – 35 marks(b) Essay writing – 30 marks(c) Comprehension- 35 marks | 100 | 60minutes | 30% | 1/3rd |
| Paper 2 | Multiple choice questions on subjects like IFSCA Act, Union Budget, Economic Survey, Banking, Capital Market, Insurance, Pension Funds, Bullion, GIFT City, GIFT IFSC, IFSCA, Global Financial Centres etc.(50 questions X 2 marks each) | 100 | 60minutes | 40% | 2/3rd |
| Aggregate Cut off | 40% |
Note:
- Candidates shortlisted for Phase II will be issued new Hall Tickets.
- There shall be negative marking (1/4th of marks assigned to the question) for Paper 2 in Phase II
- There shall be a cut-off of minimum 30% for Paper 1 and a cut-off of minimum 40% for Paper 2 in Phase II.
- Candidates would need to secure separate cut-off in each paper as mentioned above as well as aggregate cut-off marks of 40% in Phase II exam (weightage of 1/3rd for Paper 1 and 2/3rd for Paper 2) to be shortlisted for Phase III.
- Subject to the criteria mentioned above, candidates equaling 3 times the number of vacancies shall be shortlisted, in order of merit, for Phase III i.e. the Interview. List of candidates shortlisted for Interview will be made available on IFSCA website.
- All question papers except the test of English will be set bilingually in Hindi and English.
IFSCA Grade A 2023 Free Mock Test
Phase III- Interview
Only the shortlisted candidates will be called for interview. Application fee shall not be refunded to the candidates not shortlisted for Phase II and Interview. Weightage of marks obtained in Phase II will be 85%, while marks obtained in interview shall be given a weightage of 15%.
For regular updates on such exams and more follow PracticeMock’s Regulatory Bodies Telegram Channel.
In order to do the best preparation for this exam we have launched a free mock test which is based on the actual exam pattern. Candidates can attempt the IFSCA Grade A Phase 1 Paper 1 – 1 to know about their exact preparation levels.
- Sign Up on Practicemock for Updated Current Affairs, Free Topic Tests and Free Mini Mocks
- Sign Up Here to Download Free Study Material
Free Mock Tests for the Upcoming Exams
- RRB PO 2024 Free Mock Test
- RRB Clerk 2024 Free Mock Test
- SSC MTS Free Mock Test
- SSC CHSL Free Mock Test
- SSC CGL Free Mock Test
- GATE Mechanical Free Mock Test
- GATE Civil Free Mock Test
- NABARD Gr. A Free Mock Test
- SBI Clerk Mains Free Mock Test
- SSC CPO Free Mock Test
- AFCAT Free Mock Test
- CAT Free Mock Test
- NIACL Assistant Free Mock Test
- UIIC AO Free Mock Test
- UIIC Assistant Free Mock Test
- GIC Assistant Manager Free Mock Test
- NICL AO Free Mock Test
- Free SSC Live Test
- UPSC CSAT Free Mock Test
- CDS-I Free Mock Test
- RRB ALP Free Mock Test